Natural Gas Futures: Move lower about to end?
|In light of flash data from CME Group for natural gas futures markets, open interest and volume went down by around 4.6K contracts and by around 212.9K contracts, respectively, on Wednesday.
Natural Gas faces strong support around $2.25/MMBtu
Natural Gas prices charted and inconclusive session and closed slightly into the negative territory on Wednesday. The downtick was amidst shrinking open interest and volume and could support the idea that a deeper pullback seems to be losing traction. That said, the 200-day SMA in the $2.25 area per MMBtu aligns as a strong contention area for the time being.
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